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Qualitas Limited (ASX:QAL)

ALERT: Price-sensitive ASX Announcement for QAL
Current share price for QAL : $3.270 0.18 (5.83%)+
Announcement
Release
16 Feb 2026 6:46PM
Price at Release
$3.090
Full Release
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Summary
Qualitas Limited, an Australian alternative investment manager, announced strong financial results for the first half of 2026. The company reported a 30% increase in Normalised Net Profit Before Tax (NPBT) to $30.2 million and a 42% rise in funds management EBITDA to $34.3 million, compared to the same period the previous year. The Fee Earning Funds Under Management grew by 38% to $10.9 billion. The increase in recurring fee-related earnings was driven by higher base management and transaction fees. Qualitas achieved significant milestones in capital raising, securing new mandates from offshore pension funds and increased allocations from existing investors. The company maintained strong investment activity, with record levels of deployment and a strategic increase in co-investment, supporting future growth and profitability. The outlook for the second half of 2026 remains positive, with expectations of continued growth in base management fees and principal income.
Key Points
  • 1H26 marked a standout period of accelerated growth in fee-related recurring earnings.
  • Normalised NPBT of $30.2 million, up 30% on 1H25.
  • Base management fees increased by 28% to $29.7 million.
  • Transaction fees rose by 69% to $12.9 million.
  • Funds management EBITDA margin reached 55%.
  • Fee Earning Funds Under Management grew by 38% to $10.9 billion.
  • Investment deployment reached unprecedented levels with $3.7 billion deployed.
  • Operational leverage and cost management resulted in a record gross operating margin of 46%.
  • Qualitas secured new mandates from offshore pension funds and increased allocations from existing investors.
  • Positive outlook for 2H26 with expected growth in base management fees and principal income.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.